First open-ended bond investment fund licensed

Update:
March, 02/2013 - 05:00

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HA NOI (VNS)— VietFund Management's bond investment fund VFMVFB has been granted a licence to offer fund certificates. VFMVFB is Viet Nam's first open-ended fund. Bonds are set to account for 80 per cent of its portfolio.

HCM City Securities Co has been selected as the distribution agent of fund certificates for VFMVFB, and Deutsche Bank AG's HCM City branch will be supervising and providing custody services for the fund.-VNS